IPO News | Galaxy Robotics Reportedly Hires Banks for Hong Kong Listing, Could File as Early as Q1 2025

Market sources indicate that domestic humanoid robot manufacturer Galaxy Robotics is preparing for a Hong Kong IPO and has reportedly selected CITIC Securities, Huatai Securities, and UBS as arrangers. The company may submit its application to the Hong Kong Stock Exchange as early as the first quarter of 2025, targeting a valuation between $3 billion and $4 billion. However, discussions are ongoing, and details may change.

Earlier reports suggested Galaxy Robotics had been preparing for its listing for several months, with plans to file as soon as January and complete its shareholding reform in November—a key pre-IPO step. The company previously denied these claims, stating the restructuring was to facilitate normal financing needs and attract new primary market investors.

Galaxy Robotics specializes in embodied multimodal AI models and general-purpose robotics, with in-house R&D capabilities spanning robot hardware, operating systems, simulation training, and AI algorithms. Its investors include strategic and industrial backers such as CATL (03750), Meituan-W (03690), BAIC Capital, and Guoxiang Capital, as well as venture capital firms like Qiming Venture Partners, BlueRun Ventures, Matrix Partners, Source Code Capital, IDG Capital, and GGV Capital.